Morning Bid: Bracing for Chinese data deluge
The monthly Chinese 'data dump' kicks off the global trading week on Monday, with the slew of top-tier indicators likely to give investors a measure of how much the world's second largest economy is struggling to gain momentum.
In a Reuters poll of 31 market watchers, 30 expect the rate on the one-year medium-term lending facility loan to be left at 2.50%. The lone outlier projected a marginal cut of 5 basis points. That's a dovish stance relative to the Fed's revised projections of one cut this year, a position Minneapolis Fed President Neel Kashkari reiterated on Sunday.
Beijing appears to be getting nervous. China's securities regulator on Sunday said it will step up curbs on short-selling activities, and will tighten supervision of illegal share reductions by listed companies' major shareholders.
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